A Beverly Hills estate nestled on 25 acres and boasting a 10,000 bottle/barrel wine cellar for the fruits of its own vineyard, is selling for $195 million –- yowza! –- reportedly making it the country’s most expensive public listing.
It’s called Palazzo di Amore — the Palace of Love in Italian — and is being sold by real estate entrepreneur Jeff Greene, who bought the property on Lania Lane in 2007 for $35 million, and added another $25 million in renovations, according to the Los Angeles Times.
OK: $35 million plus $25 million equals $60 million. That means Greene stands to make a $135 million profit if/when he sells his Palace of Love. Not a bad way to make a living.
What does a paltry $195 million buy these days?
- Mediterranean-style villa with 12 bedrooms, 23 bathrooms.
- 5,000-square-foot master suite.
- three sets of double gates protecting the property.
- security guard house.
- quarter-mile, tree-lined drive.
- private waterfall.
- twin curving staircases.
- dining and living spaces that open onto the grounds.
- chef’s kitchen with commercial, walk-in refrigerator.
The palazzo, which is merely two miles from the famed Beverly Hills Hotel, also boasts its own vineyard that produces 400 to 500 cases per year of wine made from such varietals as Sangiovese, Syrah, Cabernet, Merlot, rose and Sauvignon blanc.
Such an estate, of course, requires a staff to run it smoothly, so a separate wing features a secondary staff kitchen, two staff rooms, two private office suites, and a three-car attached garage.
But wait; there’s more. The estate has a 15,000-square-foot entertainment complex with:
- pools lined with olive trees.
- discotheque/ballroom with state-of-the-art laser light system and revolving dance floor.
- two-lane bowling alley and game room.
- theater that seats 50-plus guests and includes a dressing room for live stage shows or movie screenings.
Palazzo di Amore was developed by Mohamed Hadid; the architect is Bob Ray Offenhauser, and the designer is Alberto Pinto. The property is co-listed by Joyce Rey and Stacy Gottula of Coldwell Banker.
Source: AOL Real Estate Blog